One possible outcome of the operation would be the creation of a single unified body across the industry designed to manage cyber-attack crises.

Speaking at the summit, Cable said that systems needed to be put in place to protect against the increasingly sophisticated criminal methods used to breach firm's security.

"It is particularly important that those industries providing essential services such as power, telecommunications and banking are adequately protected to avoid disruption to our everyday lives," Cable said.

The idea of forming partnerships between government, the regulators and industry was enforced by the Business Secretary, claiming that it was the only way to avoid such disruptions to essential services.

"Today's event marks the next step in highlighting the important role of the regulators in overseeing the adoption of robust cyber security measures by the companies that supply these crucial services," he added.